Get the free Form 8858 (Rev. December 2018)

Caution: DRIFTNET FOR FILING This is an early release draft of an IRS tax form, instructions, or publication, which the IRS is providing for your information as a courtesy. Do not file draft forms.

How to fill out form 8858 rev december

How to fill out form 8858 rev december

1. To fill out form 8858 rev December, follow these steps:
2. Begin by entering your name and identifying information at the top of the form.
3. Provide information about your foreign disregarded entity (FDE) or foreign branch on Part I.
4. Complete Part II if you have any controlled foreign corporations (CFCs) or a qualified electing fund (QEF).
5. Use Part III to provide information about any foreign partnerships you have an interest in.
6. If you have any foreign disregarded entities (FDEs) or branches, fill out Part IV.
7. Part V is used to report any transactions with foreign disregarded entities (FDEs) or between controlled foreign corporations (CFCs).
8. Use Part VI to report the amount and source of income, deductions, and credits from the FDEs, CFCs, and partnerships.
9. Provide any additional explanations or information needed in Part VII.
10. Finally, sign and date the form before submitting it.
11. Please consult the official instructions for form 8858 rev December for more detailed guidance.

Who needs form 8858 rev december?

1. Form 8858 rev December is needed by U.S. taxpayers who are considered to have an interest in or be a U.S. shareholder of foreign disregarded entities (FDEs), foreign branches, controlled foreign corporations (CFCs), or foreign partnerships.

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What is form 8858 rev december?

Form 8858 (Rev. December 2023) is the 'Information Return of U.S. Persons With Respect to Foreign Disregarded Entities' required by the IRS for reporting information related to foreign entities that are disregarded for U.S. tax purposes.

Who is required to file form 8858 rev december?

U.S. persons who own a foreign disregarded entity or are engaged in a foreign business entity must file Form 8858 if they are subject to U.S. tax laws.

How to fill out form 8858 rev december?

To fill out Form 8858, taxpayers must provide information about the foreign disregarded entity, including its name, address, and tax identification number, as well as details about the owners and financial activities of the entity.

What is the purpose of form 8858 rev december?

The purpose of Form 8858 is to provide the IRS with information about U.S. persons who own or control foreign disregarded entities, ensuring compliance with U.S. tax laws.

What information must be reported on form 8858 rev december?

Form 8858 requires reporting of general information about the foreign disregarded entity, the owner’s details, the entity's financial results, and any relevant foreign taxes paid.